In order to truly understand the benefits and limitations of title insurance we’re breaking it down for you. This article is the first part of a four-part series. We will cover the following topics with you over the next four weeks: Part 1: What is title? Part 2: What is the “public records doctrine” and why does it matter? Part 3: What is a “title examination” and why is it important? Part 4: Title insurance basics Part 1: What is “title”? The types of real rights, that is, interests in immovable property, that Louisiana law recognizes are ownership, personal servitudes, predial… read more →
The closing process is a relatively standard procedure no matter which title company you choose. At 110 Title, we strive to make this process as easy and streamlined as possible for the buyer and seller. 110 Title is focused on 110% customer service at every closing. A closing is a term used for the point in time at which the title to the property is transferred to the buyer and, generally, a mortgage (or “deed of trust”) is given by the buyer/borrower to the lender. Step 1: Lender provides you with a Good Faith Estimate Some information about the costs associated… read more →
We first posted the story of 110 Title about three years ago. We’re posting it again now because we believe it is the backbone of our company. We hope you enjoy learning more about 110 Title and how we came to get our name. *** My father and I are frequently asked, “What is “110” anyway?” As some may guess, it does have to do with the old cliché of giving “110 %”. However, thanks to an old, grey headed, tough as nails, hard lined, “do-it-right-or-not-at-all” football coach that Jack Mendheim, (the owner), Blake (Jack’s oldest son and the owner of 110 Builders,… read more →
Homeowner’s have many options to consider when determining the best possible protection to keep their homes safe and secure for their families. Many homeowners choose to install smoke alarms, deadbolt locks, and home security systems as important lines of defense to ensure their peace of mind. An Owner’s Policy of Title Insurance is also an option homeowners choose to provide an added layer of security and protection. Your home may be new to you, but every property has a history. There may be hidden issues in the chain of title which could affect your ownership, such as: Errors in Public… read more →
WHEN AND WHERE TO APPLY FOR A LOAN? There are many sources for home loans including banks, credit unions, mortgage companies, and mortgage brokers. You may consider asking friends and relatives or your real estate agent for recommendations. Knowing what you can afford before you begin looking may give you more bargaining power when negotiating with a seller. WHAT IS A HAZARD (OR FIRE) INSURANCE? Hazard insurance covers the dwelling itself and may be required for your home. Your lender or real estate agent may explain the necessary hazard insurance coverage to you. If you are buying a condominium, ask… read more →
Moving to a home in a new location can be an exciting adventure, but it can also be the cause of stress and confusion for household pets. To minimize the trauma, here are a few tips that may help make your pet’s transition a little easier: 1. Schedule an appointment with the veterinarian for a check-up prior to moving. Obtain a copy of your pet’s medical history along with rabies certifications that state when and where your pet was vaccinated. Make sure the supply of current medications will last until a veterinarian in your new location can be found to… read more →
Flood zones are land areas identified by the Federal Emergency Management Agency (FEMA). Each flood zone describes that land area in terms of its risk of flooding. Everyone lives in a flood zone-it’s just a question of whether you live in a low, moderate or high risk area. In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters and business owners if their community participates in the NFIP. Flood risk can, and does, change over time. As a result, FEMA… read more →
Lender’s Policy If you’ve ever mortgaged a home, chances are you were required to purchase a title insurance policy. This lender’s policy (often called a loan policy) is required by most lending institutions as a way to insure their security interest in the property. This policy protects the bank or other lending institution for as long as they maintain an interest in the property (typically until your mortgage is paid off). Owner’s Policy However, as a buyer, you also want to protect your investment – and the ownership rights that come with it. This is why it’s wise to purchase… read more →
Overview When you sell an investment or income-producing property, you will be required to pay capital gains taxes on that sale. (The current capital gains rate is 15 percent.) If you would like to use the proceeds from the sale to invest in replacement properties, you’ll find that the tax debt has reduces your buying power. In this situation, you should consider a 1031 exchange. A 1031 tax-deferred exchange allows owners of property held for productive use in a trade or business, or for investment, to defer capital gains taxes by “exchanging” their property for another that is “like-kind”. All… read more →
Recent Comments